#CanadaSOLETFLaunch Canada will launch the first spot Solana ETFs with staking functionality. On April 16, Canadian companies will present the world's first spot Solana ETFs to the market. This was reported by Bloomberg analyst Eric Balchunas. The expert shared a screenshot of a message from TD Bank, stating that the Ontario Securities Commission approved four products from Purpose, Evolve, CI, and 3iQ.

The funds will offer Solana staking functionality, which could potentially provide higher returns compared to similar products based on Ethereum and reduce the costs of owning the ETFs, according to TD Bank's statement.

Balchunas noted that in March, Volatility Shares already launched two futures SOL ETFs in the US, which "didn't do much." The asset volumes under their management remain small: about $5.1 million in one fund and $8.7 million in another, according to The Block tracker.

Recall that on February 7, the SEC accepted a 19b-4 application from NYSE Arca to amend rules that would make it possible to list a spot exchange-traded fund based on Solana ETFs from Grayscale Investments.